John Sams Takes Helm as KPMG Australia CEO
Synopsis
The former CFO and COO succeeds to the top role as KPMG seeks to rebuild trust and strengthen governance after a turbulent period
John Sams KPMG CEO is the new CEO of the professional services firm, stepping into the top job following a raft of governance changes over recent months in the wake of a whistleblower allegation of leaked client information.
The appointment comes after a rigorous leadership search process conducted by the firm's independent board that looked internally and across the firm's global network, as well as externally, eventually landing on Sams, most recently KPMG CFO and CEO.
Sams joined KPMG UK in 2003 before moving to Australia in 2006, accumulating close to 20 years of leadership in advisory and finance and operational roles within the firm. His most recent role before joining the executive leadership team was the head of KPMG's Commercial Advisory and Transactions business.
Focus Turns to Governance and Accountability
The leadership change at KPMG is a consequence of the resignations of its former chief executive, Andrew Yates, and former chairman, Martin Sheppard, along with several other partners following an allegation that KPMG was involved in the leak of confidential client information while preparing tenders for client audits.
KPMG has accepted it mishandled the whistle-blowing complaint and has since taken action to implement stronger governance controls to improve oversight, accountability and internal reporting procedures.
The independent chairman of the KPMG board, Michael Ebeid, confirmed Sams – who is independent chairman – had emerged after an extensive recruitment process and believed he had what it took to drive the company to the next level.
The firm stated that re-establishing client, employee and regulatory trust will be a major priority, while the new CEO will be instructing his employees on a framework of accountability, transparent, and consistent governance standards.
However, KPMG Australia is unable to bid for new Australian federal government contracts until 30 September as part of the measures put in place following the controversy.
Big Four Sector Remains Under Scrutiny
Sams' promotion comes amid a broader push by the Federal Government and the Australian Securities and Investments Commission (ASIC) to tighten regulatory oversight of the country's largest accounting firms and enhance the focus on audit quality and governance standards.
The four largest global accounting firms are Deloitte, EY, and PwC and KPMG, forming what is known as the Big Four. KPMG's global revenue was $US38.4 billion ($AU60.7 billion) for the fiscal year ending 30 September 2024, across 142 countries and territories with approximately 275,000 professionals.
KPMG Australia has about 9,000 employees, including 700 partners, making it one of the largest members of the KPMG network's Asia Pacific region.
The appointment of John Sams as CEO signals a leadership renewal for the Australian arm of one of the Big Four as it faces increased pressure regarding its governance practices, audit quality, and protections for whistleblowers from both government regulators and corporate clients.
Source: Capital Brief
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
